Finance Act 2008

Personal tax credits.

3.— (1) Where an individual is entitled under a provision of the Principal Act mentioned in column (1) of the Table to this subsection to have the income tax to be charged on the individual, other than in accordance with the provisions of section 16(2) of the Principal Act, reduced for the year of assessment 2008 or any subsequent year of assessment and the amount of the reduction would, but for this section, be an amount which is the lesser of—

(a) the amount specified in column (2) of that Table, and

(b) the amount which reduces that liability to nil,

the amount of the reduction in accordance with paragraph (a) shall be the amount of the tax credit specified in column (3) of the Table.


Statutory Provision

Existing tax credit

Tax credit for the year 2008 and subsequent years




Section 461

(basic personal tax credit)

(married person)

(widowed person bereaved in year of assessment)

(single person)







Section 461A

(additional tax credit for certain widowed persons)



Section 462

(one-parent family tax credit)



Section 463

(widowed parent tax credit)

(1st year)

(2nd year)

(3rd year)

(4th year)

(5th year)











Section 464

(age tax credit)

(married person)

(single person)





Section 465

(incapacitated child tax credit)



Section 466A

(home carer tax credit)



Section 468

(blind person’s tax credit)

(blind person)

(both spouses blind)





Section 472

(employee tax credit)



(2) Section 3 (as amended by the Finance Act 2007 ) of the Finance Act 2002 shall have effect subject to the provisions of this section.

(3) Schedule 1 shall apply for the purposes of supplementing subsection (1).